Bush announces auto rescue

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NEW YORK (CNNMoney.com) -- President Bush announced a rescue plan for General Motors and Chrysler LLC Friday morning that will make $13.4 billion in federal loans available almost immediately.

A senior administration official briefing reporters said he expects that GM (GM, Fortune 500) and Chrysler LLC will be signing the loan papers to access the cash later Friday morning.

The money will come from the $700 billion fund set aside to bailout Wall Street firms and banks in October.



Yeah , you know that money that Congress put aside to help banks and banks only ? The one thats costing every american man woman and child 23 000$ ? Yeah , the Big Three are getting a piece of the action. And they're not banks. And thats not what Congress voted for.


The terms of the loan are similar to those set in the auto bailout legislation that was passed by the House last week but was shot down in the Senate.


In fact, Congress voted against doing this. So good old Bush decided to do it anyways , and misappropriated some money that he was in charge of. Some BILLIONS of money that he was in charge of , to do something Congress said no to.

It's the american way.

And now those canadian dorks will kick in an extra few BILLION dollars that was contingent on the Americans giving the big three money , so we're out of pocket as well as the americans.

Ok , you got your money. Check should clear in a few days, then you can close all the factories and run for the border. Be seeing you , have fun, don't spend it all in one place. And remember , Buy Canadian ....thats where a few billion of the cash came from , after all.